‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up
By Mohamed Gabobe in Mogadishu
Banknotes are now so tattered that even buses refuse to accept them, as a dollarised economy and mobile phone payments push up the cost of essentials
#Somalia #Currencies #Africa #Worldnews #Foreigncurrency #MiddleEastandnorthAfrica #Economics #Business #Drought #Globaldevelopment #Dollar #Foodsecurity #MohamedGabobeinMogadishu
South Korea’s won faces volatility as market jitters persist, but experts say current weakness reflects portfolio shifts, not a liquidity crisis, and urge structural reforms to bolster resilience against future FX shocks.
Via #JasonJaySmart @ 1:00AM EST, JUNE 14
⚡️⚡️⚡️ The guarantor of #ForeignCurrency to the #Russian stock exchange & all Russian banks’ website for transactions is down.
The Russian #Ruble is collapsing.
#Russia is collapsing.
👉 Russia will not make it.
Kenya’s Shilling Posts Fifth Weekly Loss on Virus Fallout Fears
"The shilling was trading 0.1% lower at 109.22 by 10:30 a.m. in the capital, Nairobi, marking its eighth straight day and fifth consecutive week of losses."
“We expect the pressure on the shilling will persist over the coming week or so."
#Bitcoin 
#Kenya 🇰🇪 #BTC #Dollar #USD #KES #KSh #USD #KES #BTCKES #ForeignCurrency #ExchangeRate #FOREX #Bloomberg
Nigeria Devalues Naira on Migration to Single Exchange Rate
"[CBN] replaced the fixed rate of 379 naira to a dollar used for official transactions with the more flexible nafex [~410/$]."
"The fragmented foreign-exchange market had been a cause of confusion and a source of arbitrage.”
--
Dollar to Naira Black Market Rate: ₦486.00
https://www.ngnrates.com/market/exchange-rates/us-dollar-to-naira/black-market
#Bitcoin #Nigeria #CentralBank #CBN #NGN #Naira #USDNGN #BlackMarket #ExchangeRate #ForeignCurrency #Nafex
Iran Could Use Cryptocurrencies to Avoid Sanctions
https://iranwire.com/en/features/9084
"#Iran's economy is not easily able to sell its oil and gas in the face of sanctions, but by building #cryptocurrency #mining farms, it reduces #electricity losses and converts gas into cryptocurrencies, which generates high income for the economy in a time of #sanctions.”
--
Iran Considers the Use of Bitcoin Mining to Avoid Sanctions
https://www.btctimes.com/news/iran-bitcoin-mining-sanctions-evasion
How Is #Bitcoin Used In #Africa?
- Trading
- RemoteWork
- Sports Betting
- Forex / Day Trading
- Scams
- Unbanked
- Cross-Border Supplier Payments
- Remittance / Hawala
- Foreign Currency Conversion
- Expats and Repatriation
- Offshore Banking
- eCommerce
https://kenyacoin.medium.com/how-is-bitcoin-used-in-africa-e099903fbad9
#Bitcoin #Africa #Trading #RemoteWork #SportBetting #Forex #FX #DayTrading #Scams #unbanked #CrossBorder #SupplierPayments #Remittance #Hawala #ForeignCurrency #Expat #OffshoreBanking #eCommerce
Zimbabwe Miners Say Foreign-Exchange Rule Could Trigger Crisis
"[Zimbabwe] generates more than half of its foreign exchange via mineral exports."
“Foreign currency retention is not a right, but a privilege.”
#Bitcoin #Zimbabwe #Gold #Miner #Minerals #Mining #ZW #ZWL #ZWL #ZAR
$ZWL $ZAR #USDZWL #ZARZWL #USDZAR $RTGS #Dollar #Rand #RTGS #Export #ForeignCurrency #Foreign #Currency #Africa
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